HighTower Advisors LLC Acquires 695,807 Shares of Exact Sciences Corporation $EXAS

by · The Markets Daily

HighTower Advisors LLC lifted its holdings in shares of Exact Sciences Corporation (NASDAQ:EXAS – Free Report) by 130.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,229,956 shares of the medical research company’s stock after buying an additional 695,807 shares during the period. HighTower Advisors LLC owned approximately 0.65% of Exact Sciences worth $67,291,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Aberdeen Group plc lifted its stake in Exact Sciences by 52.7% during the 3rd quarter. Aberdeen Group plc now owns 304,609 shares of the medical research company’s stock valued at $16,665,000 after acquiring an additional 105,138 shares during the period. Assetmark Inc. lifted its position in Exact Sciences by 7.2% during the third quarter. Assetmark Inc. now owns 3,588 shares of the medical research company’s stock valued at $196,000 after purchasing an additional 242 shares during the period. Illinois Municipal Retirement Fund lifted its position in Exact Sciences by 20.1% during the third quarter. Illinois Municipal Retirement Fund now owns 97,134 shares of the medical research company’s stock valued at $5,314,000 after purchasing an additional 16,264 shares during the period. Skylands Capital LLC boosted its holdings in Exact Sciences by 54.1% in the third quarter. Skylands Capital LLC now owns 32,175 shares of the medical research company’s stock worth $1,760,000 after purchasing an additional 11,300 shares during the last quarter. Finally, Krilogy Financial LLC grew its position in Exact Sciences by 30.7% in the 3rd quarter. Krilogy Financial LLC now owns 55,845 shares of the medical research company’s stock worth $3,055,000 after purchasing an additional 13,129 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Insider Activity

In related news, EVP Jacob A. Orville sold 5,000 shares of Exact Sciences stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. Following the transaction, the executive vice president owned 23,237 shares in the company, valued at approximately $1,742,775. The trade was a 17.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EXAS has been the topic of several research analyst reports. Wall Street Zen cut Exact Sciences from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. TD Cowen downgraded Exact Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Jefferies Financial Group cut Exact Sciences from a “buy” rating to a “hold” rating and raised their target price for the stock from $90.00 to $105.00 in a research report on Monday, November 24th. Benchmark lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $105.00 price objective (up previously from $80.00) on shares of Exact Sciences in a report on Friday, November 28th. Two equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $89.56.

Get Our Latest Stock Report on EXAS

Exact Sciences Stock Up 0.0%

NASDAQ EXAS opened at $103.24 on Tuesday. Exact Sciences Corporation has a 52 week low of $38.81 and a 52 week high of $103.54. The company has a quick ratio of 2.44, a current ratio of 2.72 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $19.70 billion, a P/E ratio of -93.85, a price-to-earnings-growth ratio of 2.44 and a beta of 1.42. The stock’s 50-day moving average price is $102.15 and its 200-day moving average price is $76.36.

Exact Sciences (NASDAQ:EXAS – Get Free Report) last released its earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.The firm had revenue of $878.38 million during the quarter, compared to analysts’ expectations of $860.59 million. During the same period in the prior year, the company posted ($0.06) earnings per share. The company’s revenue was up 23.1% compared to the same quarter last year. On average, equities research analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Exact Sciences Profile

(Free Report)

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.

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